Playtika Q2 Earnings Call Highlights

Playtika’s second-quarter revenue rose 5% year over year to $731.1 million , while adjusted EBITDA reached $206.1 million, lifting the margin to 28.2% as marketing spending fell 30% sequentially. Management maintained full-year guidance but expects revenue and adjusted EBITDA near the lower ends of the ranges , citing planned marketing cuts and softer consumer demand. Marketing reductions are expected to be largest in the third quarter. Disney Solitaire remained a major growth driver, with revenue up 289% year over year to $142.4 million, while direct-to-consumer revenue climbed 63% to $286.9 million and reached 39.3% of total revenue.

Playtika NASDAQ: PLTK reported second-quarter revenue of $731.1 million, up 5.0% from a year earlier but down 1.8% sequentially, as the mobile-game company reduced marketing spending after front-loading user acquisition investment earlier in the year. Adjusted EBITDA totaled $206.1 million, producing a 28.2% margin, compared with a 16.8% margin in the first quarter. Net income was $48 million, while adjusted net income was $53.6 million.

Management maintained its full-year revenue and adjusted EBITDA guidance ranges, but said it now expects results to land toward the lower end of both ranges. CFO Tae Lee cited the planned reduction in marketing investment during the second half and a more cautious view of consumer spending following softer demand observed late in the second quarter. Marketing Pullback Drives Margin Recovery CEO Robert Antokol said the quarter demonstrated the company’s model of investing in player acquisition and benefiting from longer-term player retention and spending. He pointed to Disney Solitaire, where Playtika reduced marketing spending from the first quarter while revenue continued to grow. “We brought our marketing spending down and the game still grew,” Antokol said. “This only happens when the players you have added continue to stay with you, when they keep playing and they keep spending.”

Sales and marketing expense was $252.6 million, down 30% sequentially and 2% year-over-year. Lee said the reduction reflected the company’s planned step-down in spending following heavier first-quarter investment, particularly in SuperPlay titles. Playtika expects marketing spending to decline further in the second half. Lee said the timing of user-acquisition spending was influenced by the structure of SuperPlay’s earn-out, which is based on full-year revenue growth and EBITDA margin expansion. The company concentrated spending earlier in the year to build revenue cohorts, then reduced spending to allow profitability to improve. SuperPlay became a positive adjusted EBITDA contributor during the second quarter, according to management. However, Lee said revenue from the studio’s games is expected to decline sequentially in the second half as marketing spending falls, while still growing year-over-year.

Disney Solitaire and Portfolio Performance Disney Solitaire generated $142.4 million in second-quarter revenue, increasing 15.5% sequentially and 288.6% year-over-year. The game launched globally in April 2025 and remains early in its lifecycle, Lee said. Management expects Disney Solitaire revenue to decline sequentially during the second half because of reduced user-acquisition investment. Lee emphasized that this expected decline reflects spending timing rather than weakening engagement or the game’s long-term prospects. “We’re going to keep on growing this game, but we’re going to do it in a way that’s profitable,” Lee said, adding that the product roadmap includes new gameplay modes and content planned for the third and fourth quarters. Bingo Blitz remained the company’s largest revenue title...